HONG KONG Dec 21 UBS AG has named Sam
Kendall as the global head of equity capital markets (ECM),
according to an internal memo seen by Reuters on Friday, capping
a year in which the Swiss bank regained its title of Asia
Pacific ex-Japan's top stock underwriter.
Kendall, who joined UBS in Australia 16 years ago, helped
the bank boost its ECM revenue by 80 percent in 2012 from 2011
when he took the post as head of Asia ECM, according to the memo
sent by Matthew Grounds, David Soanes, Steve Cummings and Mike
Stewart. By comparison, the fee pool in the region shrank 20
percent, the memo added.
Kendall will continue to be based in Hong Kong in the newly
UBS has been a dominant force in Asian ECM, ruling the
region's league tables in six of the past seven years. The bank
took back the top post in 2012 after losing it to Goldman Sachs
Group Inc last year.
The bank was among the three advisors to motor sport racing
company Formula One's planned Singapore IPO, which was postponed
after private equity firm CVC Capital sold a $2.1
billion stake to a group of investors including U.S. asset
managers Waddell & Reed and BlackRock.
This year, UBS also worked on $15.5 billion worth of ECM
deals in Asia ex-Japan and also led the region in estimated
fees, earning $223.5 million, according to Thomson Reuters data.
UBS also worked on some of the largest equity offerings of
the year in Asia Pacific, including American International Group
Inc's $6 billion selldown of AIA Group in
March and $3.6 billion IPO by People's Insurance Company (Group)
of China (PICC) this month.